DSEX gains 111 points in four trading sessions

The benchmark index of the Dhaka Stock Exchange (DSE) advanced for the fourth consecutive session on Sunday, thanks to the growing confidence of investors backed by the government's announcement to adjust fuel prices according to the global markets.

Investors breathed a sigh of relief also because of the Bangladesh Bank's efforts to stabilise dollar prices, said a top official of a brokerage firm.

DSEX surged 111 points in the last four trading sessions and reached 6,259 on Sunday.

Also, at the Chittagong Stock Exchange, the all share price index Caspi advanced 20 points to reach 18,390.

According to Sunday's daily market commentary by EBL Securities, the equity indices of the Dhaka bourse extended their upward momentum from the previous week while investors' participation in the large capitalised stocks pushed the core index to stay afloat in green terrain amid some volatility in the mid-session.

"The market participants showed mixed reactions as some cautious investors continued to offload their holdings due to a perceived bleak economic outlook. But the bargain hunters took it as an opportunity to buy selective stocks at lucrative prices, which helped the optimistic investors outnumber the pessimistic ones across the bourse," it added.

Meanwhile, the Dhaka bourse observed a slight decrease in participation as the total turnover declined by 8.8% to Tk1,060 crore on Sunday from Tk1,160 crore in the previous session.

The textile sector contributed the most to the day's turnover, followed by the miscellaneous, engineering, and pharma sectors.

Jute registered the highest sectoral return on Sunday, followed by cement, services, and IT sectors.

Monno Fabrics was the highest gaining stock, while Tamijuddin Textile faced the highest price correction at the end of Sunday's trade.